Human Resources Management Assignment: HSBC Bank

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Added on 2020-06-06

Human Resources Management Assignment: HSBC Bank

Added on 2020-06-06

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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Purpose and function of HRM applicable to workforce planning.........................................1P2 Strength and weakness of different approaches to recruitment and selection.......................3TASK 2............................................................................................................................................5P3 Benefits of HRM practices for employer and employees......................................................5P4 Effectiveness of various HRM practices to raise organizational profit and productivity......7TASK 3............................................................................................................................................8P5 Significance of employee relation in respect to influencing HRM decision making............8P6 Elements of employee legislation and its influence on decision making process.................9TASK 4..........................................................................................................................................10P7 Application of HRM practices in work related context.......................................................10CONCLUSION..............................................................................................................................12REFERENCES .............................................................................................................................13

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INTRODUCTIONHuman resource management refers to HR department of the company which has job ofdesigning a path way through which they maximise employee's performance (Alfes and et. al.,2013). HR is generally focused with the management of persons with in company, concerning onpolicies and system. Human resource of the firm has their own process with the helps it they willbalancing all activities of organisation along with it they are creating harmony in theenvironment of company. The department of HR are divided into three core sections like;staffing, determining/ designing work and employee remuneration or compensation. This reporthas falls on the ground of HSBC, which known as HSBC bank plc that is one of the largestfinancial and baking services firm in the entire world. The report is concern with roles andresponsibilities of team of HR ion order to develop entire company. Therefore purpose, scope,function and techniques are highlighted in this report. Along with it HRM practices and laws ofemployee are discussed. This is true that HR team of company are playing significance role inorder to encourage their staff member by attaining different function in sound manner. TASK 1P1 Purpose and function of HRM applicable to workforce planningHSBC is a British multinational baking and financial services firm with having largenumbers of offices and positive goodwill at the market area through which they will get attentionof large number of customers or clients. On the other side HSBC bank is expending theirbusiness functions and operations in over sees level through opting different effective strategiesand theories. With it, HSBC'S department of HR are concentrating on the performance ofworkers in respect to motivate them towards their personal and professional aim and goal. HRM is a term which is used to explain formal system of the management of human within a company. Human resource management is a process which has inclusion of recruiting, selecting,training , performance appraisal, maintain relation of employees, safety, health measures andwelfare and ruled according to labour laws.Scope of HRM: it is majorly concern with planning of human resource, recruiting orselection of workers, promotion, placement, job transfers, generating enhancement sessions,compensation and several other things that has relation with staff members. 1

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It has been analyse that large number of approaches are determine in the HR practises inorder to implementing all other activities in the most effective manner. Hence two coreframework is explained as:Hard: As per this component, workers are consider as a tool or machinery and sharingsound relation with corporate planning. Hence major element of this approach is detailedas;◦changes in the number of workers with modify manner in short term.◦Autocratic leadership style◦Providing minimum wage at time of recruiting or retaining staff. Soft: According to this component, workers are acting as a essential resource in theoperations of business and organisation seems that they getting competitive advantage.That means they are concertinaing on the longer term of human resource planning alongwith they will have two ways of interaction. After recognizing both of the approach, it has been determine that the HSBC team of humanresource are playing sound number of roles with the helps of these tools that provides supportsin order to attain personal activities in the most suitable manner. It explains various types offunctions of HR department of firm that are describe as:Job analysis: It is suitable process that provide helps in order to define the nature ofspecific job role and for it different unique requirement of workers such as: experienceare needed to rolling a particular job and so on. Hence in the end of the process entiredescription of a specific work has been explained along with its duties, responsibilitiesand business activities of workers. Staffing: on the grounds of this component, human resource department of HSBC hasresponsibility to hire and select best suitable person form the pool of applicants. Theircore aim is to filling up the empty or vacant positions of the firm through qualified, skillsfull and eligible person in order to attract targets in pre determine time period in HSBC. Training and development: the manager of human resource management of anorganisation is required to have different types of improvement session in respect ofboosting the knowledge of workers that are hired at work station. Along with it, this isimpotent to motivate employees for their personal and occupational objective throughenhancing their entire performance and personalty. 2

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